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Franchise accounting adds royalties, marketing levies, franchisor reporting and extra GST and withholding tax rules on top of normal small business bookkeeping. Royalties and levies are usually charged on gross sales, not profit, so they need ...
SMSFs can invest in residential and commercial property, but strict borrowing, tax and compliance rules apply. From 10 August 2026, new SMSF property loans generally require the property to qualify as business real property, restricting borrowing for ordinary residential investment properties. Outright residential purchases remain permitted, ...
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Only part of a business loan repayment is tax deductible in Australia. Interest and eligible fees are generally deductible to the extent the borrowing is used to earn assessable business income. The principal is not deductibl...
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Private health insurance premiums are not a tax deduction in Australia, but cover can still help at tax time in two ways. The private health insurance rebate is an income-tested government contribution to your premiums, paid either as a lower premium or as a refundable tax o...
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Cosmetic renovations never trigger GST, no matter how much you spend. A substantial renovation, where substantially all of the building is removed or replaced, makes the property “new” and its sale may attract GST. The GST Margin Scheme taxes only the gap between your sale price and purchase pric...